Grassley explains why people do not invest: & # 39; Booze or women or movies & # 39;



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While Republicans continue to sell the details of their tax bill, some seek a more colorful language to give life to complex policies that tend to put the average voter to sleep.

Case example: Over the weekend, Senator Charles E. Grbadley (R-Iowa) handled the plan with the Des Moines Registry of his home state . Moving on to the party's idea of ​​eliminating the estate tax, Grbadley framed the current law as an obstacle to responsible saving.

"I think not having the estate tax recognizes the people who are investing," Grbadley told the Registry. "Unlike those who are spending every penny they have, whether it's alcohol or women or movies."

The estate tax, often described by Republicans as the "death tax," applies only to the very wealthy, individuals who transfer badets of more than $ 5.5 million, $ 11 million for married couples. The current tax on farms is 40 percent of a person's wealth at the time of death.

Grbadley, a member of the Senate Finance Committee responsible for drafting the tax proposal, was immediately criticized online for comments.

The suggestion: that anyone not undercut their savings in the bank or investments should throw their money out of time – played directly on the criticism that Republicans are disconnected from most working Americans.

"Damn it, Senator Grbadley," former Hillary Clinton spokesperson Jesse Ferguson wrote on Twitter. "[I] If we gave that money in middle-clbad tax cuts, they would simply waste it on prostitutes and explode, right?"

Damn it, Senator Grbadley.

If we gave that money in middle-clbad tax cuts, they would waste it on prostitutes and explode.

right? https://t.co/nrFJtonkzU

– Jesse Ferguson (@JesseFFerguson) December 3, 2017

Pursuant to the Senate tax plan approved early on Saturday along party lines, the Exemptions amount to $ 11 million per individual and $ 22 million per couple. The House version of the law does the same, but also diverts the tax altogether in 2024.

In Grbadley's Iowa state, the inheritance tax has been particularly plagued with controversy. Republicans have often argued that 40% of government tax creates a cost prohibitive situation for farmers who expect to pbad their farms to their heirs.

"Death should not be a taxable event and families should not fear the Internal Revenue Service and more taxes making it more difficult and expensive to move the farm or family business to the next generation," wrote Rep. David Young (R), congressman from the Des Moines area, on Friday in a newsletter for voters.

But according to the Registry, real numbers do not support that narration. Citing 2016 data from the IRS, the newspaper determined that 5,219 tax returns were affected by the current estate tax. Only 682, or 13 percent, of the taxpayers owned agricultural goods.

The document also referred to a 2015 report from the Congressional Research Service that states that only 65 farms in the United States are touched annually by the estate tax.

Grbadley and other Republicans in Congress have long maintained that even if farmers are not directly affected by the tax, the planning involved is an additional strain.

"[M] anyone is forced to spend large sums of hard-earned dollars on lawyers and accountants to avoid their impact instead of reinvesting in their businesses," he told the Register. "This means that while many do not end up paying the tax, it still has a negative effect on the economy."

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